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2min chapter
The One With Matt Levine and Mary Childs
The Compound and Friends
Is There a Ponzi Elements?
Ponzi element is like a feature, not a bug in a way. You could easily have a situation where you think the cash flows will be below what the market does, but you think the price will be higher,. And then you bet stock, right? Do you envision an evolution where the Ponzi element either gets regulated out of existence or enough people have lost money that nobody falls for it anymore? I mean, I think- and then it gets more professionalized.
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